Posted on 02/20/2012 4:56:01 AM PST by tobyhill
Refinery closings could mean $4 gasoline
December 22, 2011
Gasoline prices may rise above $4 next summer if three Philadelphia area refineries close, reducing capacity, said Edward Morse, New York-based head of commodities research at Citigroup.
Sunoco Inc. and ConocoPhillips have idled two plants in Marcus Hook and Trainer, and Sunoco plans to shut the Philadelphia refinery by July if a buyer isn’t found. Together, the plants account for about half of U.S. East Coast refining.
“One of the things that’s lurking in the marketplace is the consequence of this shutting in of about 700,000 barrels a day of East Coast refineries,” Morse said in a Bloomberg TV interview. - Bloomberg
Refinery closings could mean $4 gasoline
December 22, 2011
Gasoline prices may rise above $4 next summer if three Philadelphia area refineries close, reducing capacity, said Edward Morse, New York-based head of commodities research at Citigroup.
Sunoco Inc. and ConocoPhillips have idled two plants in Marcus Hook and Trainer, and Sunoco plans to shut the Philadelphia refinery by July if a buyer isn’t found. Together, the plants account for about half of U.S. East Coast refining.
“One of the things that’s lurking in the marketplace is the consequence of this shutting in of about 700,000 barrels a day of East Coast refineries,” Morse said in a Bloomberg TV interview. - Bloomberg
When Obama came into office gas prices were $179-$184. Bush inherited prices of $1.29 from Clinton which Clinton inherited @ $.88.
Prices did spike under Bush but we were had 9/11-war but still dropped back to fig. above.
Obama's "No" to the Keystone Pipeline repeatedly which would have brought oil from a "friendly neighbor" Canada. A refinery near Philadelphia could be closed down in July because of the EPA.
Obama finds himself Invested heavily in the VOLT, bankrupt Solar investments, Wind farm companies seeing red..his competitor is Oil.
However, Obama meeting this week with Netanyahu [and they are not best of buds] will shift focus to Israel and her aggressive enemy of Iran. France had stopped using oil for Iran, as did the Brits-[so some pundits are incorrect] on Europe's dependency on Iran's oil.
But then the President needs the Jewish vote as has dropped down from the 50s into the 30s support percentage. So could just PR for Obama's vote retriever tactics.
Michael Reagan said we could bring back down the price of fuel to $150.00 gal and he still supports Newt.
Obama is The President of Failed Policies.
re-elect team defended White House energy policyTime to remind the electorate that Daschle opposed expanded exploration in Alaska, claiming it would take ten years to reach market. It's been close to twenty years now, and the same Demwit party opposes US petroleum production, as well as Canadian production.
In a new book series called “Phoenix Rising”, a newly elected president’s solution to America’s energy problem is to cut off all oil drilling via executive order in order to “strongly encourage development of a new energy source”. Naturally, the price on everything skyrockets.
Know what the character’s next decision is when people start raising cain? Passing an American version of the Enabling Act.
The United States and Mexico agreed Monday to work together when drilling for oil and gas below their maritime border in the Gulf of Mexico.......
......The cooperation stems from an understanding that President Barack Obama and Calderon reached in 2010 to SHARE in the PROFITS and WORK together to avoid spills....
....Calderon said the deal creates clear rules and should erase any fear among Mexicans that THEIR OIL will be appropriated by Americans.
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This Obama-Mexico agreement has to do with oil from areas of the Gulf that are outside both Mexico’s and the USA. I think that this “sharing” will mean American companies will do the work and Mexico will get a significant chunk of the profits. And this from areas of the Gulf that ARE NOT MEXICAN. Thanks a lot Barack & Hillary!!
“Help! I’m being oppressed!”
“Now why would he do that? Everyone knows that the single, critical issue in this election is government mandated contraception. “
Now that you mention contraception, it occurred to me that Clinton’s bombing of an aspirin factory now makes sense.
You got that right; they want people packed like sardines in their disease ridden, crime infested urban centers where they can be monitored and hearded about like the sheep so many are. A pox on the cities!
The prices above were shown on SF KTVU this morning. They are blocking the prices of the higher grades which were over $5/gallon.
Remember the hate America Enviros have wanted $5/gallon for gas for years. If our economy was recovering, this will drive a wooden stake into its heart!
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